Nordea Investment Management AB Raises Position in CubeSmart $CUBE

Nordea Investment Management AB raised its position in CubeSmart (NYSE:CUBE) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 445,678 shares of the real estate investment trust’s stock after acquiring an additional 15,961 shares during the quarter. Nordea Investment Management AB’s holdings in CubeSmart were worth $18,032,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. True Wealth Design LLC boosted its stake in shares of CubeSmart by 308.2% during the 2nd quarter. True Wealth Design LLC now owns 694 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 524 shares during the last quarter. Private Trust Co. NA lifted its holdings in CubeSmart by 209.6% during the 3rd quarter. Private Trust Co. NA now owns 706 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 478 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in CubeSmart by 174.8% in the second quarter. Geneos Wealth Management Inc. now owns 893 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 568 shares during the period. SJS Investment Consulting Inc. acquired a new stake in CubeSmart during the third quarter worth about $42,000. Finally, Hantz Financial Services Inc. boosted its position in CubeSmart by 1,776.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,651 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,563 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CUBE shares. Evercore ISI dropped their price target on shares of CubeSmart from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of CubeSmart in a research report on Wednesday, October 8th. Mizuho cut their target price on CubeSmart from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Deutsche Bank Aktiengesellschaft set a $45.00 price objective on shares of CubeSmart and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Truist Financial reduced their target price on CubeSmart from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.73.

CubeSmart Stock Performance

Shares of NYSE CUBE opened at $39.18 on Friday. The business’s 50-day moving average price is $36.54 and its two-hundred day moving average price is $39.23. CubeSmart has a one year low of $34.24 and a one year high of $44.13. The company has a market capitalization of $8.93 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 8.43 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.47 and a quick ratio of 0.47.

CubeSmart (NYSE:CUBE) last posted its earnings results on Friday, October 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. CubeSmart had a net margin of 33.31% and a return on equity of 12.49%. The firm had revenue of $285.08 million during the quarter, compared to analysts’ expectations of $282.57 million. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 5.4%. This is a boost from CubeSmart’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, January 2nd. CubeSmart’s dividend payout ratio is 135.90%.

CubeSmart Company Profile

CubeSmart (NYSE: CUBE) is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and management of self-storage facilities across the United States. The company’s portfolio comprises properties in primary and secondary markets, catering to both individual and business customers seeking flexible, short-term and long-term storage solutions. CubeSmart’s facilities feature a range of unit sizes, climate-controlled options and advanced security features, supported by on-site managers and centralized customer service operations.

In addition to traditional self-storage units, CubeSmart offers specialty services such as vehicle and boat storage, retail sales of packing and moving supplies, and tenant insurance programs.